Notice of Tax Incentives on Deep Offshore Oil and Gas Production, 2024

The Nigerian Oil and Gas Industry is in dire need of investments to revitalize the sector. With international oil companies (IOCs) divesting from onshore and shallow water assets and concentrating their efforts on deepwater operations, it has become crucial for government to incentivize deep offshore operations to attract the required investment.

As part of the Federal Government of Nigeria’s (FGN) commitment to improving the investment climate, and to position Nigeria as the preferred investment destination for the Petroleum Sector in Africa, His Excellency, President Bola Ahmed Tinubu, GCFR, signed three Executive Orders on 28 February 2024.

Click here to read the full publication.